Policy announcements by central banks affect financial markets, but their effect on consumer beliefs is limited. This paper studies the implications of using different communication channels: established media outlets versus social media. Information on the news sources comes from our original...

Für Thomas Mayer, Deutsche Bank, erscheint es sinnvoll, dass die EZB den Leitzins auf sein neutrales Niveau hochführt. Noch wichtiger für die Wahrung der Stabilität des Euro wäre es aber, dass sich die EZB aus der Finanzierung von durch Insolvenz bedrohten Staaten und ihren Banken...

We investigate the impact of the European Central Bank's monetary policy announcements on the level and volatility of the EUR-US Dollar exchange rate employing an AR-FIGARCH specification. Using high-frequency data we estimate the individual and complementary effects of the release of the...

In the aftermath of the euro cash changeover consumers’ inflation perceptions rose substantially in the euro area countries while actual inflation figures remained almost unchanged. During that period media reporting on the potentially large inflationary effect of the euro introduction...